The Rega 2000 for $600 is a no-brainer it is much much better and is a much better match for the quality of your components than the 500se, grab it before it's gone!
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I have listened to both, and found the Cambridge (which I listened to very carefully) to be bright for my taste. I listened with budget electronics (Cambridge and NAD integrated amps).
The Rega sounded good, but the top-loader design wouldn't work in my space, so I didn't do real careful listening.